Do you leave your bike unattended for long periods of time? Do you store your bike outside the house? If so, theft insurance is probably a good idea. I don't have it because I store my bike in the garage, and the only time I leave my bike outside alone is when I'm eating, and even then, I sit where I can watch it. A bike lock on the front or rear tire is a good idea too, but a friend of mine got on his bike one day and forgot to take the Masterlock off his front caliper. You can imagine what happened when he took off after about three feet.